Nintendo's Iwata named among top CEOs
Nintendo President, Satoru Iwata, has been named among the world's top CEOs, thanks to the success of Wii and soaring stocks.
March 27, 2007 - Barron's Online, an overseas financial publication, has ranked some of the world's best/most respected CEOs, and joining the likes of Rupert Murdoch is Nintendo's Japanese President, Satoru Iwata.
The publication wrote of Iwata: "Little more than a year ago, it looked like game-over for Nintendo as Microsoft and Sony duked it out over the next generation of gaming consoles. Iwata, 47, changed all that with Wii. The strikingly innovative console converts body motions like the swing of a tennis racquet into actions on a screen. Meanwhile, Nintendos Brain Age, aimed at boomers fearful of losing mental acuity, has be-come one of Americas top-selling games.
"Result: Kyoto, Japan-based Nintendos earnings are jumping and its cash hoard has swelled to more than $6 billion. Iwata, a former game developer, says his strategy is simple: 'We are not fighting against other companieswe are fighting against ignorance of video games.' Certainly, no one is in the dark anymore about Nintendos potential."